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Geothermal Energy: Asia’S Next Big Power Play
(MENAFN- The Rio Times) The International Energy Agency (IEA) has spotlighted geothermal energy as a game-changer for Asia's power sector. China and India are set to lead this shift, potentially meeting up to 15% of global electricity demand growth by 2050.
Geothermal power, which uses underground hot-water reservoirs, currently accounts for just 0.3% of global electricity. However, new technologies like Enhanced Geothermal Systems (EGS) are unlocking vast potential.
EGS allows drilling deeper to access or create geothermal resources, making it viable in regions previously considered unsuitable. China holds about 8% of the global EGS potential, while India's potential at 5 km depth is around 14 TW.
Southeast Asia, led by Indonesia and the Philippines, represents 15% of the global technical potential. These figures highlight the significant market opportunity for geothermal energy in Asia.
The cost of EGS technology could drop by up to 80% by 2035, making geothermal power competitive with or cheaper than gas or coal with carbon capture.
This cost reduction could see geothermal power account for 20% of electricity growth in key regions by 2050. Geothermal energy offers stability, complementing variable renewables like solar and wind.
Asia's Key to Sustainable Power Generation
It's a reliable alternative to coal, crucial for countries like China and India. The oil and gas industry's expertise could accelerate geothermal development, with up to 80% of the required investment involving transferable skills.
However, challenges persist. High initial costs and regulatory hurdles, including lengthy permitting processes, need addressing. Governments must streamline these without compromising environmental standards.
As Asia faces rising energy demands and environmental pressures, geothermal energy emerges as a viable solution. With China and India leading the charge, the region could become a global leader in this clean energy technology.
The coming years will likely see increased investment and development in geothermal projects, reshaping Asia's power generation landscape.
Geothermal power, which uses underground hot-water reservoirs, currently accounts for just 0.3% of global electricity. However, new technologies like Enhanced Geothermal Systems (EGS) are unlocking vast potential.
EGS allows drilling deeper to access or create geothermal resources, making it viable in regions previously considered unsuitable. China holds about 8% of the global EGS potential, while India's potential at 5 km depth is around 14 TW.
Southeast Asia, led by Indonesia and the Philippines, represents 15% of the global technical potential. These figures highlight the significant market opportunity for geothermal energy in Asia.
The cost of EGS technology could drop by up to 80% by 2035, making geothermal power competitive with or cheaper than gas or coal with carbon capture.
This cost reduction could see geothermal power account for 20% of electricity growth in key regions by 2050. Geothermal energy offers stability, complementing variable renewables like solar and wind.
Asia's Key to Sustainable Power Generation
It's a reliable alternative to coal, crucial for countries like China and India. The oil and gas industry's expertise could accelerate geothermal development, with up to 80% of the required investment involving transferable skills.
However, challenges persist. High initial costs and regulatory hurdles, including lengthy permitting processes, need addressing. Governments must streamline these without compromising environmental standards.
As Asia faces rising energy demands and environmental pressures, geothermal energy emerges as a viable solution. With China and India leading the charge, the region could become a global leader in this clean energy technology.
The coming years will likely see increased investment and development in geothermal projects, reshaping Asia's power generation landscape.
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